• SK Tax announced changes in tax reporting for major shareholders; the financial threshold for being classified as a major shareholder will increase to KRW 5bn.

Announcement

• Affects those who have transferred stocks within H1 2024, subject to capital gains tax.
• Minor shareholders of listed companies trading within market, those of SMEs on K-OTC market who hold less than 4% shares, market cap under KRW 5bn are excluded.
• Shareholders, along with related parties, who meet the criteria of major shareholders through combined substantial shareholding percentages or market cap must report collectively.

Effectiveness

• Tax must be reported and paid by 2 September 2024.